Apple pays $60 million for iPad brand name rights in China

Apple has paid $60 million to settle a dispute in China over ownership of the iPad brand name in the country. According to an announcement by Chinese-based, Hong-Kong registered computer display maker Proview, the two parties reached a settlement during mediation.

Ha, I didn't even know they enforced naming rights in China. They sued for $1.6 billion and Apple paid $60m. That's less than 1/25th of what Proview wanted. Sounds like a pretty big win for Apple's legal team.

You'd think just calling it the iTab in China would make everyone happy.